Bounce back tax Bounce back tax - Page 3
Page 3 of 3 FirstFirst 123
Posts 21 to 25 of 25

Thread: Bounce back tax

  1. #21

    Fingers like lightning


    Join Date
    Apr 2020
    Posts
    632

    Default

    Quote Originally Posted by Old Greg View Post
    You personally owe the company money, so not as easy to walk away from the company and its debt.
    Especially if one arranges wo/men in suits to extract the debt from oneself

  2. #22

    Should post faster


    Join Date
    Nov 2017
    Posts
    150

    Default

    Quote Originally Posted by GhostofTarbera View Post
    50K lasts a long time in retirement in Thailand / Vietnam

    Just saying like


    Sent from my iPhone using Contractor UK Forum
    Maybe it does, but unless you take it out as salary, you would still be required to either service the loan until paid (and after 12 months interest is due as well) or pay back the loan before you closed the company.

    If you think the UK Gov can't touch you in Thailand you are sorely mistaken

    Similarly I can't see £50K lasting more than 3 years in Thailand having spenf a lot of time there working - yes a Thai can live on less but a "farang" with all the double-pricing etc. would really struggle to live on £16K a year for any length of time (unless you really like squalour)

  3. #23

    Fingers like lightning


    Join Date
    Feb 2020
    Posts
    545

    Default

    Quote Originally Posted by oilboil View Post
    Maybe it does, but unless you take it out as salary, you would still be required to either service the loan until paid (and after 12 months interest is due as well) or pay back the loan before you closed the company.

    If you think the UK Gov can't touch you in Thailand you are sorely mistaken

    Similarly I can't see £50K lasting more than 3 years in Thailand having spenf a lot of time there working - yes a Thai can live on less but a "farang" with all the double-pricing etc. would really struggle to live on £16K a year for any length of time (unless you really like squalour)
    I am pretty sure it was just a joke.

    Most people here are contractors earning 100-150k+ a year (200k+ a year technically to qualify for 50k loan), probably not gonna take 50k and go on the run lol.

  4. #24

    Double Godlike!

    ladymuck's Avatar
    Join Date
    Sep 2005
    Location
    London
    Posts
    11,931

    Default

    Quote Originally Posted by elsergiovolador View Post
    Especially if one arranges wo/men in suits to extract the debt from oneself
    Tarby can give you some tips on where to find such people if needed

  5. #25

    Default

    Quote Originally Posted by ladymuck View Post
    Tarby can give you some tips on where to find such people if needed
    £50K would last me about 6 weeks in Thailand anyhoo


    Sent from my iPhone using Contractor UK Forum

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •